There has been some noise around that what are the provisions for builder or Constructors in LBT regime.
Here is what LBT Amendment Rules, 2012 proposes to make changes in LBT Rules 2010 (Which are the original Rules governing LBT).
This provision is but subject to 50% of LBT paid in advance.
Below is the photo of the notification as appearing on the website of Pune Municipal Corporation.
Any contractor undertaking work within the area of Municipal Corporation shall have the option of either paying LBT as normally would have paid under the rules or on Lump Sum basis at 0.25% of their total amount of Contract Value.
Below is the photo of the notification as appearing on the website of Pune Municipal Corporation.
(Click on Image to view Full Size)
Here is what LBT Amendment Rules, 2012 proposes to make changes in LBT Rules 2010 (Which are the original Rules governing LBT).
1. For Builders
Any Builder or Contractor has to get registered for LBT with the Corporation and then apart from normal provition for paying tax have this option to pay LBT.| No of Floors in Building | LBT payable |
|---|---|
| 4 Floors | 100 per Sq Meter |
| 7 Floors | 150 per Sq Meter |
| Above 7 Floors | 200 per Sq Meter |
This provision is but subject to 50% of LBT paid in advance.
Below is the photo of the notification as appearing on the website of Pune Municipal Corporation.
2. For Contractors
Any contractor undertaking work within the area of Municipal Corporation shall have the option of either paying LBT as normally would have paid under the rules or on Lump Sum basis at 0.25% of their total amount of Contract Value.
Below is the photo of the notification as appearing on the website of Pune Municipal Corporation.
 |
| Notification : LBT Amendment Rules 2012 |
(Click on Image to view Full Size)
